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| Hochtief subsidiary will build and operate barracks in Munich Hochtief has won the first public-private partnership (PPP) project ever to be put out for tender in the defense sector in Germany. Under the assignment, Group subsidiary Hochtief PPP Solutions will finance, plan, build and partially refurbish the Fürst Wrede barracks in Munich and operate the facility for a period of 20 years. The client is the German Federal Ministry of Defense. The group will invest a total of almost EUR 48 million. The contract volume amounts to around EUR 164 million. The barracks are the first PPP project of the German government in the field of public-sector building construction. write your comments about the article :: © 2008 Construction News :: home page |